DGAP-News: Madison Property AG: Property markets far from nationwide bubble
(firmenpresse) - DGAP-News: Madison Property AG / Key word(s): Miscellaneous
Madison Property AG: Property markets far from nationwide bubble
28.02.2011 / 09:53
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* Chinese property markets in general are in stable condition
* Chinese government actions to prevent overheating of markets show
positive effects
* Majority of provinces and cities still offer affordable residential
properties
* Sharp price increase only affects major cities like Beijing, Shanghai or
Shenzhen
Berlin, 28 February 2011 - The Chinese real estate markets are often
referred to as overheated and in a state of an investment bubble. Chinese
property developer Madison Property AG (ISIN DE000A0V9KR3 / WKN A0V9KR /
Ticker MPD), operating mainly in the city of Chongqing and the area of
Qingdao in Shandong Province, draws another picture. The fundamentals of
the overwhelming majority of regional Chinese property markets are still in
a stable condition. Signs of an overheating are only to be seen in the few
Tier 1 cities such as Beijing, Shanghai or Shenzhen.
'We understand, that the condition of the Chinese real estate markets is
often characterized by descriptions of the situation in the most popular
major cities. But from our point of view as a player in these markets,
residential property is still available at affordable prices in other areas
except the few major cities', says Qingtong Tian, CEO and founder of
Madison Property. For example, according to the National Bureau of
Statistics of China, the prices for residential properties in Qingdao
showed a 9.0% rise during the last two years. In the same time, prices in
Beijing increased by 24.4%.
According to Madison, government actions to prevent an overheating such as
restrictions for mortgage credit volume, requirements for equity ratios of
up to 50% or special real estate taxes already wind down the situation,
too. 'There has been a sharp price increase in the major cities. But the
situation is far from an overall nationwide real estate bubble.
Furthermore, most of our projects for the financial year 2010/2011 have
already been sold. That minimizes the effects of government actions on us',
states Mr. Tian.
About Madison Property AG
Madison Property AG is a German stock corporation under the laws of Germany
with its legal seat in Berlin. It is the holding company of Madison
Property Group Limited which operates as a large scale property developer
with its local subsidiaries in China, mainly in the Shandong Province and
the municipality of Chongqing. Founded in 1998, Madison already completed
and successfully sold 14 projects/project phases. It is focused mainly on
residential properties with high quality and travel as well as leisure
properties. Madison is recognised as a Class I property developer by the
People's Republic of China Ministry of Housing and Urban-Rural Development
and can therefore undertake projects nationwide without limitation on the
construction scale.
For further information please contact:
Kirchhoff Consult AG
Dr. Kay Baden
T: +49 40 60 91 86 34
F: +49 40 60 91 86 60
E-Mail: baden(at)kirchhoff.de
or visit www.madisonproperty.de
Disclaimer
This publication constitutes neither an offer to sell nor a solicitation to
buy securities of Madison Property AG. This document is not an offer of
securities for sale or a solicitation of an offer to purchase securities in
the UnitedStates. The shares of Madison Property AG (the 'Shares') have
not been registered under the U.S. Securities Act of 1933, as amended (the
'Securities Act') and may not be offered or sold in the United States
unless registered under the Securities Act or pursuant to an exemption from
such registration. There will be no public offering of the Shares in the
United States and the Shares will not be registered under the Securities
Act.
This document is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment
professionals falling within Article 19(5) of the Financial Services and
Markets Act 2000 (Financial Promotion) Order 2005 (the 'Order') or (iii)
high net worth entities, and other persons to whom it may lawfully be
communicated, falling within Article 49(2)(a) to (d) of the Order (all such
persons together being referred to as 'relevant persons'). The Shares are
only available to, and any invitation, offer or agreement to subscribe,
purchase or otherwise acquire such securities will be engaged in only with,
relevant persons. Any person who is not a relevant person should not act or
rely on this document or any of its contents.
End of Corporate News
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28.02.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
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113643 28.02.2011
Datum: 28.02.2011 - 09:53 Uhr
Sprache: Deutsch
News-ID 33317
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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